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Wipro allots over 1.18 lakh equity shares after employees exercise stock options
Shares issued under three employee stock incentive schemes on July 29
Bengaluru: Wipro Limited has allotted 118,283 equity shares following the exercise of employee stock options under its various stock incentive programmes.
In a regulatory filing, the IT services company said it allotted 20,176 equity shares under the ADS Restricted Stock Unit Plan 2004, 72,857 equity shares under the Restricted Stock Unit Plan 2007 and 25,250 equity shares under the Employee Stock Options, Performance Stock Unit and Restricted Stock Unit Scheme 2024.
The allotment was approved on July 29 and follows the exercise of employee stock options under the company’s long-term equity incentive plans.
Employee stock option schemes are designed to reward and retain employees by giving them an opportunity to acquire equity in the company, aligning their interests with those of shareholders.
The latest allotment will marginally increase Wipro’s outstanding equity share capital in line with the vesting and exercise of stock-based awards. The company disclosed the allotment through stock exchange filings with the BSE and the National Stock Exchange.
